Welcome Sky Express! Russia's first LCC
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Sky Express
Russia's first domestic LCC, Sky Express, launched operations on 29-Jan-07, with twice daily Moscow-Sochi service.
The carrier was established in Mar-06 and is based at Moscow Vnukovo Airport. By the end of the year, the Sky Express aims to operate scheduled services to 11 Russian cities within 500 to 2,000 miles of Moscow. Sky Express recently announced plans to launch services to Rostov-on-Don and Murmansk in Feb-07.
In Sep-06, the European Bank for Reconstruction and Development (EBRD) invested USD10 million in the carrier. The EBRD, which will commit up to USD20 million in Sky Express, expects the new carrier to introduce new methods and models into the Russian air transport market, potentially improving competitiveness by encouraging consolidation and modernisation. It also hopes the presence of an LCC in the market will provide the impetus for expansion and upgrades of Russia’s air transport infrastructure.
Other investors in the carrier include KrasAir, Russia’s third largest carrier, as well as several smaller private investors and two Russian private investment funds. According to Sky Express no single entity currently possesses a majority shareholding. Sky Express has reportedly secured USD48 million for initial capitalisation and the launch of operations.
The carrier has ambitious expansion plans...
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Welcome Sky Express! Russia's first LCC 
